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Cost Accounting
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Cost Accounting
The quantity of manufactured goods are sold at which the total cost equal, is known as
breakeven point
cost point
revenue point
quantity point
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Cost Accounting
The costs, which consist of interdepartmental cost allocations plus cost of support department are classified as
complete reciprocal costs
artificial costs
operating costs
flexible operating costs
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Cost Accounting
The correct treatment of an amount paid per items produced to the owner of a patent would be to include it in which of the following?
Distribution expenses
Administration expenses
Indirect expenses
Direct expenses
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Cost Accounting
The master budget includes all the projections of company’s budget and focuses on
serial correlation
marketing plan
financial plan
both B and C
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Cost Accounting
Under/Over applied FOH cost can be adjusted in which of the following?
Entire Production
Cost of goods sold
Net Profit
All of these
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Cost Accounting
___________is the cost that is incurred at the time of making transaction:
Product Cost
Period Cost
Sunk Cost
Historical Cost
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Cost Accounting
The process of assigning the indirect costs to any specific cost object is known as
economic cost
cost tracing
cost allocation
non-economic costs
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Cost Accounting
Overhead refers to:
Direct or prime cost
All indirect costs
only factory indirect cost
only indirect expenses
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Cost Accounting
The return on sales is multiplied to investment turnover to calculate
residual income
return on investment
return on sales
investment turnover
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Cost Accounting
In process costing, if an abnormal loss arises, the process account is generally:
Debited with the scrap value of the abnormal loss units
Debited with the full production cost of the abnormal loss units
Credited with the scrap value of the abnormal loss units
Credited with the full production cost of the abnormal loss units
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